Senior Compliance and Audit Associate

VILLAGE BANK•Newton, MA

6d•$67,000 - $85,000

About The Position

Responsibilities Compliance Monitors proposed and final changes to State and Federal Consumer regulations primarily through multiple compliance software tools and assesses impact on the Lending and Deposit departments of the Bank. Assists with working with business units to implement changes to process as needed. Assists with conducting various risk assessments such as UDAAP, Fair Lending, ID Red Flags, UIGEA, and Regulation based. Assists with the execution of the Bank’s Compliance Quality Control Review Program. Program is designed to proactively monitor and ensure the Bank is in compliance with all state and federal regulations. Ensures identified deficiencies have been tracked and corrected. Assists with writing all applicable compliance policies and procedures, their distribution, and maintenance of compliance manuals Consults with and advises business units and managers affected by compliance issues and regulatory requirements. Performs requested disclosure reviews or update of existing disclosure. Assists with creation of new disclosures as needed. Assists with new product or program development as requested by business line. Tracks responses to customer complaints, advises management of status and recommends actions to resolve issues and minimize the Bank's exposure. Assists with meetings with business units on at least a quarterly basis to determine/ to ensure regulatory issues/questions are being addressed timely. Assists with monthly board reports. Performs annual review of compliance training modules provided to all employees within BAI Learning Management System and makes edits as necessary. Works closely with commercial lending regarding coding for commercial investment loans for HMDA purposes. Performs annual review of commercial HMDA data collected to ensure accuracy of data prior to submission date of March 1st annually. Community Reinvestment Act: Works closely with commercial lending regarding the identification and collection of Small Farm and Small Business Loan information for submission by March 1st annually. As a separate schedule within the same submission, must work closely with commercial lending to identify and collect Community Development loan information. Anticipate regulatory change in the CRA Act within the year. The expectation would be for the applicant to be able to understand the current environment and the proposed environment. Review the donations, investment, and loan data that has been input into Kadince software for accuracy. Prepare annual Public File according to the requirements of the regulation. Audit Function: Assists Audit Manager/Chief Risk Officer with the tracking of all audit findings into Tandem to include follow-up items, etc. Monitor scheduled audits to make sure staying on tracking of audit schedule Uploading requested documents to secure audit portal for timely submission. Starting annual salary for a Senior Compliance & Audit Associate is $67,000.00 to $85,000.00, aligned to relevant experience, skills, and internal equity. Final offers consider job-related experience, specialized skills, and internal equity and are not based on salary history.

Requirements

3-5 years in Compliance or Audit within banking/financial service sector
Bachelor’s degree or equivalent combination of education and relevant experience
All employees are expected to possess basic technology skills including knowledge of basic computer programs and software.
Highly computer literate in Microsoft applications.
Excellent communication, presentation, writing, and interpersonal skills

Responsibilities

Monitors proposed and final changes to State and Federal Consumer regulations primarily through multiple compliance software tools and assesses impact on the Lending and Deposit departments of the Bank.
Assists with working with business units to implement changes to process as needed.
Assists with conducting various risk assessments such as UDAAP, Fair Lending, ID Red Flags, UIGEA, and Regulation based.
Assists with the execution of the Bank’s Compliance Quality Control Review Program.
Ensures identified deficiencies have been tracked and corrected.
Assists with writing all applicable compliance policies and procedures, their distribution, and maintenance of compliance manuals
Consults with and advises business units and managers affected by compliance issues and regulatory requirements.
Performs requested disclosure reviews or update of existing disclosure.
Assists with creation of new disclosures as needed.
Assists with new product or program development as requested by business line.
Tracks responses to customer complaints, advises management of status and recommends actions to resolve issues and minimize the Bank's exposure.
Assists with meetings with business units on at least a quarterly basis to determine/ to ensure regulatory issues/questions are being addressed timely.
Assists with monthly board reports.
Performs annual review of compliance training modules provided to all employees within BAI Learning Management System and makes edits as necessary.
Works closely with commercial lending regarding coding for commercial investment loans for HMDA purposes.
Performs annual review of commercial HMDA data collected to ensure accuracy of data prior to submission date of March 1st annually.
Works closely with commercial lending regarding the identification and collection of Small Farm and Small Business Loan information for submission by March 1st annually.
As a separate schedule within the same submission, must work closely with commercial lending to identify and collect Community Development loan information.
Anticipate regulatory change in the CRA Act within the year. The expectation would be for the applicant to be able to understand the current environment and the proposed environment.
Review the donations, investment, and loan data that has been input into Kadince software for accuracy.
Prepare annual Public File according to the requirements of the regulation.
Assists Audit Manager/Chief Risk Officer with the tracking of all audit findings into Tandem to include follow-up items, etc.
Monitor scheduled audits to make sure staying on tracking of audit schedule
Uploading requested documents to secure audit portal for timely submission.